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Updated: 4 years 29 weeks ago
WeWork sues SoftBank for dropping $3 billion tender offer
A WeWork board committee that negotiated a $3 billion tender offer with SoftBank Group sued the Japanese conglomerate on Tuesday for abandoning the deal, accusing it of succumbing to "buyer's remorse" amid the novel coronavirus outbreak.
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Amazon testing disinfectant fog at New York warehouse after coronavirus protests
Amazon.com Inc is testing the use of disinfectant fog at a warehouse in Staten Island, New York starting on Tuesday, the company told Reuters, following worker protests over the risk of coronavirus infection at the site.
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Mnuchin seeks additional $250 billion in small business relief from Congress by Friday
Treasury Secretary Steven Mnuchin said on Tuesday he wants Congress to approve an additional $250 billion for a small business relief program by Friday.
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Trump says $70 billion in coronavirus rescue loans authorized. But where's the cash?
Roughly $70 billion of a $350 billion pot of loans to cover the payrolls of ailing small businesses have been originated by U.S. lenders in recent days, President Donald Trump said on Tuesday, adding that that money was "essentially loaned."
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Refunds row escalates as airlines warn millions of jobs at risk
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus air travel downturn, and held out against offering refunds to passengers as cash runs out.
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Airlines cannot afford to refund cancelled tickets: IATA
Global airlines cannot afford to refund cancelled flights because of the coronavirus crisis, said the head of the industry's representative body IATA, and carriers are issuing vouchers instead as they conserve cash to survive.
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U.S. SEC issues compliance focus areas for brokers before new rules take effect
The head of the examination office at the U.S. Securities and Exchange Commission (SEC) on Tuesday published details about the expected scope and content for compliance with a new rule requiring broker-dealers and investment advisers to disclose potential conflicts of interest.
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U.S. economy will eventually reopen but with big changes: Kudlow
The Trump administration is aiming to reopen the U.S. economy when the nation's top health experts give the go-ahead, but Americans' lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday.
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Former Fed chief Bernanke sees bad year, no quick recovery
The U.S. economy could shrink 30% or more this quarter as stay-at-home orders aimed at slowing the coronavirus outbreak choke off business, and it could be a couple of years before the economy regains its footing, former Federal Reserve Chair Ben Bernanke said on Tuesday.
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Amazon to suspend delivery service competing with UPS, FedEx: WSJ
Amazon.com Inc has put on hold a new delivery service that competes with UPS and FedEx, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
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Wall Street volatility raises fears of another selloff
The evaporation of a rally on Wall Street in the closing minutes of Tuesday's session shows that many investors fear the U.S. stock market is in danger of a renewed tumble due to uncertainty surrounding the coronavirus pandemic.
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Jobless Americans to see extra payments as soon as this week
Americans who have lost their jobs due to the coronavirus outbreak will start getting enhanced jobless benefits as soon as this week as states deploy hundreds of billions of dollars in federal aid, state officials said on Tuesday.
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Oil drops on growing crude glut, doubts over output cuts
Oil slumped on Tuesday in the face of swelling crude supplies and weak fuel demand due to the coronavirus pandemic, while investors also grew cautious over expectations that the world's biggest producers would quickly agree on output cuts.
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Oil drop saps gains as Wall Street fades late
Wall Street fell on Tuesday, as a drop in oil prices steepened in the latter stages of the session and erased early gains built on tentative signs that coronavirus outbreaks in some of the biggest U.S. hot spots may be leveling.
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Amazon piloting disinfectant fog at New York warehouse after protests
Amazon.com Inc told Reuters it is piloting the use of disinfectant fog starting on Tuesday at a warehouse in Staten Island, New York, within days of protests at the worksite over health concerns during the coronavirus pandemic.
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U.S. Treasury liquidity on the mend, but without Fed remains fragile
Some measures of liquidity in the $17 trillion U.S. Treasury market are almost back to normal, thanks to the Federal Reserve's giant purchases, after drying up two weeks ago at the height of the coronavirus panic, but trading conditions remain challenging.
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Wall Street ends lower after volatile session
Wall Street fell on Tuesday after a volatile session and following tentative early signs that coronavirus outbreaks in some of the biggest U.S. hot spots may be plateauing.
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Exxon could delay third Guyana project as government review drags on
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be postponed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.
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Exxon lops 30% off 2020 spending, deeper and later than rivals
Exxon Mobil Corp on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble.
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White House to hold call with banks as hundreds struggle to access small business loans
The White House was due to speak with banks on Tuesday, as the administration's $350 billion program to support ailing businesses continued to confront hurdles, with some of the nation's largest lenders sitting on the sidelines and others unable to access the system.
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